Auto Financing or Leasing Ronkonkoma NY

Learning the differences between auto financing and leasing will help you decide which option is best for you. Read this article and know more.

Local Companies

Bohemia Auto Center Inc
(631) 738-7018
4173 Veterans Memorial Hw
Ronkonkoma, NY
Cox Nissan
(718) 430-1900
1235 E Tremont Ave
Bronx, NY
Fenix Car Service
(718) 821-2121
586 Seneca Ave
Ridgewood, NY
Tlaza Auto Repair
(718) 513-4779
2002 Neptune Ave Ste 4
Brooklyn, NY
Lincoln Limousine
(212) 722-0939
347 E 109th St
New York, NY
A & E Auto Repair
(631) 471-1549
1743 Julia Goldbach Ave
Ronkonkoma, NY
Platinum Car Service
(914) 376-1700
41 Lockwood Ave
Yonkers, NY
Jj's Auto Repair
(718) 328-2543
518 Bryant Ave
Bronx, NY
E & D Auto Repair
(718) 232-0549
1749 84th St
Brooklyn, NY
Brown & Brown Corp
(718) 574-4900
540 Halsey St
Brooklyn, NY

Provided by:

It's like buying a new pair of shoes. Everyone has an opinion on the topic, but the best advice is to scope out which is the right fit for you.

Ownership

Leasing: You do not own the vehicle. You get to use it but you have to return it when your lease ends. If your lease vehicle has a purchase option, you may be able to purchase your vehicle during the term of the lease or at lease end.

Buying: You own the vehicle and you get to keep it when you pay off the amount owed under the financing contract.

Up-front costs

Leasing: The money you pay before you take possession of the car may include the first month's payment, a refundable security deposit, a capitalized cost reduction (like a down payment), taxes, registration and other fees, and other charges.

Buying: Up-front costs include the cash price or a down payment (if you finance), taxes, registration and other fees, and other charges.

Monthly payments

Leasing: When you lease a car, you are paying only for the vehicle's depreciation during the lease term plus rent charges (like interest), taxes, and fees and charges that may be owed during the lease. This usually makes monthly lease payments lower than monthly loan or other finance contract payments.

Buying: When you finance your purchase, you are paying for the entire purchase price of the vehicle, plus interest and other finance charges, taxes, and fees. This means that you're probably going to end up spending more on a finance monthly payment than on a lease monthly payment.


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